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Economics

National output and income

Interpret national output, income, and expenditure measures without treating GDP as a complete measure of well-being.

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Where this chapter sits in the course

Lessons

Chapter 10 of 18 · 6 short lessons · 25 min
  1. 1Gross domestic product4 min
  2. 2GDP expenditure components4 min
  3. 3National income and expenditure4 min
  4. 4Nominal and real GDP4 min
  5. 5GDP and economic well-being3 min
  6. 6Challenge: National output and income6 min

What you'll learn

  • Identify what GDP counts
  • Interpret output, income, and expenditure measures
  • Recognize the limits of GDP

Your plan from this chapter

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